In an article entitled \"Internal Control Evaluation: How The Computer Can Help\" David C. Burns and James K. Loebbecke presented a computer simulation audit approach for evaluating internal control. In their article Burns and Loebbecke applied their simulation approach to evaluate an illustrative manufacturing inventory internal control system. This thesis presents two alternative mathematical approaches for solving the Burns/Loebbecke inventory problem: The two mathematical...

Topics: Management, audit strategy, internal control evaluation, compliance level, substantive test,...

The point availability of a system of components each of which is subject to random failures and has random restoration times is determined. Each component is assumed to have a fixed number of spares such that when all spares are exhausted no restoration can take place. Exact expressions are obtained for the availability of any series/parallel system composed of independently operating components. Furthermore, expressions are obtained for the availability of series systems under five operating...

Topics: operational availability, point availability, stocking policy, reliability, repair, stochastic...